2 min read
The real cost is lost output
A stopped line means missed orders, idle staff and unhappy customers — usually a bigger hit than the repair bill. Getting back to production quickly is the priority.
How to fund it
Asset finance spreads the cost of a replacement machine over its working life, while a short working-capital facility covers an urgent repair. Either keeps a large one-off out of your bank balance.
Replace or repair?
If the machine is near the end of its life, financing a replacement can be cheaper than repeated repairs. Weigh the downtime risk of an old asset against the monthly cost of a new one.
What it means for you
Credicorp lends to your company, not to you personally, and takes no personal guarantee. See business loans or apply online when the numbers work.
Frequently asked questions
Is it better to repair or replace failing equipment?
Replace when repairs are becoming frequent or the machine is near end-of-life; asset finance makes replacement affordable. Repair when the asset has plenty of life left and the fix is quick and cheap.
How fast can I get funding to replace a machine?
With a prepared application, asset finance or a short facility can often be arranged in days, so production need not be down for long.
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Read →Funding for UK limited companies
Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.